Staff Reports
Leave it to the Biden administration to come up with a plan to make housing even more expensive. Vice President Kamala Harris is spearheading an initiative that aims to disburse $25,000 worth of federal cash to first-time homebuyers, all in the name of combating the housing crisis. It’s almost as if she’s trying to change the laws of economics with a wave of her magic policy wand.
In a world where basic economics seems to have taken a permanent vacation, Harris has proposed a tantalizing treat for those looking to become homeowners. However, real estate agents aren’t throwing confetti. One seasoned professional pointed out that this government “gift” actually hikes up home prices by the same $25,000 the government plans to hand out. It’s simple math—offer more money, and sellers will just raise the price. Surprise!
“Kamala Harris Housing Proposal 'Just Added $25,000' To The Price Of 'Every Home' In America”
Who are you and what have you done with the real CNN?
— Phil Holloway ✈️ (@PhilHollowayEsq) August 16, 2024
This housing bonanza was rolled out just before the Democratic National Convention, complete with promises to build millions of homes and adjust zoning laws. It seems Harris believes the federal government should get cozy with local zoning rights, a move that raises eyebrows. Local jurisdictions typically guard those laws for a reason, a sentiment likely lost on the vice president and her supporters.
Social media influencers have taken to platforms like TikTok to mock this well-meaning yet misguided proposal. One real estate broker and author, with a substantial following, shredded the already shaky foundation of the Harris plan. She highlighted how government handouts, framed as “down payment assistance,” merely toss fuel on the inflation fire. The more money the government prints, the more inflated the market becomes—an economic concept that the Harris team seems blissfully unaware of.
And there’s the kicker. While this plan seems to promise younger generations a sprint towards homeownership, they are also setting themselves up to finance their own inflated nightmare. Student loans, once dubbed “free money” to pursue higher education, are only a glimpse of how such government interventions backfire. Those who think they’re going to snag a deal are actually primed to pay for the inflated rates in the end. Talk about a lesson in cognitive dissonance! It’s both sad and amusing to imagine millennials taking the bait on a scheme that guarantees they’ll be footing that $25,000 bill twice—once through the inflated home prices and again through their tax dollars.
So, if anyone out there is keeping track, this is yet another chapter in the saga of government policies that promise to help but end up making things worse. Next time a politician offers you “free money,” it might be wise to check your wallet first.
